The contractor’s total liability is now generally capped at the sum stated in the Contract Data or, if not stated, the Contract Price.
"Perfect," he whispered.
A major improvement in the 2021 edition is the explicit limitation of liability, which was absent in the 1999 edition.
Standard templates for the Agreement, Schedule of References, and security instruments. The Role of the Engineer fidic short form of contract 2021 pdf
The 2021 Green Book introduces several critical enhancements:
The Employer bears the risks of design errors (if provided by the Employer), force majeure (exceptional events), delays caused by authorities, and late possession of the site. If these events occur, the Contractor is entitled to an Extension of Time (EOT) and Prolongation Costs. Contractor’s Risks
Which will the project be executed in?
It incorporates modern international construction law principles.
Suitable for both Employer-designed (traditional) and Contractor-designed (design-build) projects.
Total liability under the contract is limited to the sum stated in the Data Sheets. If no sum is stated, it defaults to the accepted Contract Amount. This prevents catastrophic, unbounded financial exposure. The contractor’s total liability is now generally capped
The standardized rules governing the contract, risk sharing, and obligations.
One of the most innovative features of the new Green Book is the Prolongation Cost mechanism—essentially a liquidated damages regime for the Contractor's additional overheads arising from compensable delay. The PGC is defined as on-site and off-site overheads associated with a compensable extension of time, as stated in the Contract Data. These overheads are payable from the Employer to the Contractor at a daily rate for the duration of the extension of time.